CLP's Net Jumps 32% on Tax Gain

HONG KONG -- CLP Holdings Ltd. said its net profit last year climbed 32% because of a one-time tax gain and an increase in contributions from the company's overseas operations.

The Hong Kong-based utility, which also has power plants and energy assets in mainland China, Australia, Taiwan, India and Thailand, will rely more on operations abroad to fuel its earnings growth, Executive Director Andrew Brandler said.